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Global Veterinary Molecular Diagnostics Market accounted to grow at estimated value of $870.34 million, registering a CAGR of 8.48% in the forecast period of 2019-2026

Global Veterinary Molecular Diagnostics Market

Definition:

The molecular diagnostic is a laboratory method for examining the RNA or DNA or other proteins in humans and animals which is used to identify diseases or the predisposition stage . The scope of this diagnostic comprises of the various clinical testing devices, supplies and reagents and which are used in hospitals, commercial laboratories, clinics, reference laboratories and research institutes for identifying disease indications for identifying and monitoring. Veterinary molecular diagnostics provides a number of benefits than the other traditional diagnostic techniques like fast shifting time (within 2.5–3 hours), high test specificity and sensitivity, and better distinction among the birulent and avirulant strains.

 

Analysis of Global Veterinary Molecular Diagnostics Market report:

Global Veterinary Molecular Diagnostics Market is expected to rise from its initial estimated value of USD 453.83 million in 2018 to an estimated value of USD 870.34 million by 2026 registering a CAGR of 8.48% in the forecast period of 2019-2026. Molecular diagnostic market is driven by Increasing incidence of numerous animal diseases and by increasing expenditure on pet animal.

 

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Market Drivers:

  • Increase in the expenditure on pet animal
  • Increase in incidence of numerous animal diseases
  • Increase in the growth of foodborne diseases will act as a major market driver

 

Market Restraints:

  • High cost of these systems acts as a market restraint
  • Lack of trained professionals that can utilize completely antigen/immunogenic structures is also acting as a major market restraint

 

Leading Key players profiled in this report are:

Few of the major market competitors currently working in the veterinary molecular diagnostics market are IDEXX Laboratories, Inc., VCA, Inc., Abaxis, Heska Corporation , Zoetis , NEOGEN CORPORATION , Thermo Fisher Scientific, Inc., Virbac, General Electric Company, Agfa-Gevaert Group., Veterinary Molecular Diagnostics, Inc.,  Novacyt Group, Qiagen , Biomedica Medizinprodukte GmbH & Co KG, Veterinary Laboratory – HealthGene Corp. , Bioneer, Abaxis, Neogen Corporatio.

 

Global Veterinary Molecular Diagnostics Market Segmentation:

By Technology

  • PCR kits
  • RAPD-PCR strain analysis
  • Real Time PCR
  • INAAT kits
  • Microarray kits
  • DNA sequencing kits

By Product

  • Instruments & Software
  • Kits & Reagents
  • Services

By Animal Type

  • Companion Animals
  • Livestock Animals

By Disease Indication

  • Vector-borne Diseases
  • Respiratory Pathogens Detection
  • Diarrhea Pathogens Detection
  • Others

By Application

  • Infectious Diseases
  • Oncology
  • Genetics
  • Microbiology

By End-User

  • Veterinary Hospitals
  • Clinical Laboratories
  • Research Institutes

By Geography

  • North America
  • South America
  • Europe
  • Asia-Pacific

 

Competitive Analysis:

The global veterinary molecular diagnostics market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of veterinary molecular diagnostics market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.

 

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The Global Veterinary Molecular Diagnostics Market report provides the global market size of the main players in each region. Moreover, the report provides knowledge of the leading markets players within the Global Veterinary Molecular Diagnostics Market. The industry changing factors for the market segments are explored in this report.  This analysis report covers the growth factors of the worldwide market based on end-users. Market opportunities and recommendations for new investments are also encompassed in this report.

 

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